Bloomington, Ind. — In the latest of a series of strategic decisions aligned to its 5-year vision, Cook Group announced today that RTI Surgical will acquire Cook Biotech, a Cook life sciences company based in West Lafayette, Ind. RTI Surgical is a privately held, surgical implant company. Cook Group and RTI Surgical signed a purchase agreement and project the transaction will close in late January or early February.
Cook Biotech has a 28-year history in pioneering the development of devices that convert porcine tissue into a safe, regenerative xenograft biomaterial that physicians and surgeons believe in. RTI Surgical has expertise in allograft tissue processing and sterilization, innovation, regulatory know-how, and reliable manufacturing methods. Together, the two companies will be the only company able to offer customers both allograft and xenograft products and services.
“Cook Group is getting focused on using our resources to invest in areas we know we can grow and make a significant impact for patients,” said Pete Yonkman, president of Cook Group and Cook Medical. “In this case, we know RTI Surgical is uniquely positioned to take what the team at Cook Biotech has created over the past 28 years and extend its impact around the world. This agreement represents the best pathway forward for the products, employees, and patients. The rest of the Cook Group organization will not change ownership and will remain privately held.”
Details of the transaction:
- RTI Surgical is purchasing all company shares of Cook Biotech.
- There are approximately 275 Cook Biotech employees who will become RTI Surgical employees upon close.
- There is a transition services agreement in place to fully transition Cook processes such as ordering and distributing over to RTI Surgical over the next 18 months post close. There is no immediate change for customers.
- Cook Biotech represents less than 2.0% of Cook Group’s revenue.
About Cook Group
Cook Group is a privately held company with headquarters in Bloomington, Indiana. Our diverse business portfolio includes companies working in life sciences, business services, resorts, property management, and medical devices.
Founded in 1963, Cook Group companies today employ more than 12,000 people around the world. We are committed to improving lives by giving back to our communities, supporting our employees and their families, and serving our customers and their patients. Learn more at CookGroup.com.